| Thu 13 May 2010, 16:25 | | QHL - Queensgate Hotels and Leisure Limited - Detailed cautionary announcement |
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QHL
QHL
QHL - Queensgate Hotels and Leisure Limited - Detailed cautionary announcement,
renewal of cautionary and withdrawal of cautionary
QUEENSGATE HOTELS AND LEISURE LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1998/013649/06)
Share code: QHL ISIN code: ZAE000113718
(`Queensgate` or `the Company`)
DETAILED CAUTIONARY ANNOUNCEMENT, RENEWAL OF CAUTIONARY AND WITHDRAWAL OF
CAUTIONARY
DETAILED CAUTIONARY ANNOUNCEMENT
Shareholders are advised that the Company has signed an agreement, which is
subject to the completion of a due diligence, for the acquisition of 51% (fifty
one percent) interest in Queensgate by Joseph Khumalo or his nominee for a
purchase consideration of R15 000 000 through the issue of new shares in
Queensgate.
Following completion of the due diligence, an application will be made to the
Securities Regulation Panel for a waiver of an offer to minority shareholders.
Once the due diligence is completed a further announcement will be released.
Accordingly, shareholders are advised to exercise caution when dealing in the
Company`s securities until a full announcement is made.
RENEWAL OF CAUTIONARY ANNOUNCEMENT
With regard to the announcement dated 6 April 2010, 14 April 2010 and 15 April
2010, shareholders are advised to continue to exercise caution when dealing in
the Company`s securities until a full announcement is made.
WITHDRAWAL OF CAUTIONARY
Following the announcements published on 17 February 2010, 05 March 2010, 12
March 2010, 01 April 2010, 06 April 2010, 14 April 2010 and 15 April 2010,
shareholders are advised that the application for the provisional winding-up
order of Queensgate has successfully been opposed and the cautionary
announcements in relation to the steering committee and this matter thereto are
hereby withdrawn.
By order of the board
Johannesburg
13 May 2010
Designated Advisor
Arcay Moela Sponsors (Proprietary) Ltd
Date: 13/05/2010 16:25:01 Produced by the JSE SENS Department.
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